Celestica Has Other-Worldly Quarter PDF Print E-mail
Written by Mike Buetow   
Thursday, 27 January 2011 10:15

TORONTO -- Celestica reported its fourth-quarter net earnings rose 18% year-over-year, boosted by strength in most of its end-customer markets.

The company said its fourth-quarter profit was $58.3 million, up from $49.5 million last year.

 

For the period ended Dec. 31, revenue came in at $1.88 billion, up 13.3% from last year and at the high end of the company's forecast and beating the consensus analyst estimates of $1.77 billion.

The company reported a non-GAAP operating margin of 3.6%, flat with last year. Inventory turns were 8.7 times.

“Celestica reported very strong financial results in the fourth quarter, highlighted by 21% sequential revenue growth and the highest returns on invested capital since the company went public in 1998,” said Craig Muhlhauser, president and chief executive.

For fiscal 2010, revenue was $6.5 billion, up 6.6%. GAAP net earnings were $80.8 million, up 47% from last year.

Celestica counts RIM, IBM and Cisco as major customers, with RIM making up 20% of its sales.

The company guided anticipates revenue to be in the range of $1.725 billion to $1.875 billion, and adjusted net earnings per share to be in the range of $0.20 to $0.26.  The company expects a negative $0.07 to $0.11 per share (pre-tax) impact on an IFRS basis for the following items: quarterly stock-based compensation, amortization of intangible assets (excluding computer software) and restructuring charges as a result of the conversion to IFRS.

 

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